TNM, Old Mutual gain
TNM plc led the shares market last week with 767.5 million shares, a significant volume according to FDH Stockbrokers, resulting in the counter gaining 5.45 percent to close the week at K116 per share.
In the week, Old Mutual plc (OML), the only foreign counter, also gained 1.15 percent to K880 from K870 per share on the back of 262 shares changing hands.
The gain in the two counters sent upwards the domestic share index and the foreign share index by 30.38 points and 12.57 points respectively which, in turn, pushed overall measure of market performance, Malawi All Share Index (Masi) by 39.47 points.
The 16 deals, according to the report, raised K1.4 billion ($3.7m) with 775.2 million changing hands.
The 14-counter market recorded trading activity in six counters, namely, Blantyre Hotels Limited (BHL), Illovo Sugar (Malawi) Limited, National Bank of Malawi (NBM), Press Corporation Limited (PCL), TNM plc and OML.
Meanwhile, a latest monthly performance report for April 2013 shows that the MSE raised K381.9 million in April 2013, a 605 percent drop from the previous month’s K2.6 billion largely because of few shares that were transacted in the month.
But the market has performed well compared to the same period last year, when it raised K203.9 million, according to the MSE monthly performance report for April 2013.
In the month, the market transacted 72.1 million, down from last month’s two billion shares, but has registered a jump compared to last year during the same period when it transacted 9.6 million shares.
“The market registered an average daily volume of 3.4 million shares in April 2013 compared to 98.8 million shares in March 2013,” says the report.
In the month, the average daily turnover was K18. 1 million ($44 485.96) compared to K128.3 million ($320,119.26) the previous month, reflecting a decrease of -85.83 percent (-86.10 percent in dollar terms).
Overall, the market recorded a return on index of 0.25 percent, but recorded a decrease in total value traded and volume compared to the previous month.
